Job Description

SUMMARY: Processes mortgage loans ensuring compliance with policy, regulatory requirements and loan terms.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following: Other duties may be assigned.

• Uses independent discretion in reviewing and analyzing documents to make determinations as to whether a loan is of good quality and is ready to be sent to Underwriting for approval and/or if loan is unworkable and should be declined.
• Reviews loan packages for missing and/or incomplete information and follows up with borrowers and Mortgage Consultants to complete files.
• Audits and prepares quality files that meet closing objectives.
• Clears stipulations from underwriters and works with underwriters to overcome unnecessary stipulations.
• Attends meetings as necessary to ensure continuing education and efficiencies of the processing function.
• Understands internal overlays and outside investor programs and products and compiles information to ensure files meet required guidelines.
• Orders VA & FHA case numbers and performs case queries.
• Provides guidance and recommendations to Mortgage Consultants as needed to ensure loan closings.
• Performs full and comprehensive analysis of income, assets, credit, AUS and DU/LP.
• Follows up and analyzes title commitment orders and appraisal orders.
• Performs timely 48 hour initial reviews on each file and is responsible for file flow, status updates and documenting needed information in conversation logs.
• Performs all initial compliance tests. (Reg Z, Section 32, Fannie 5, etc.)
• Creates Welcome letters, needs lists, borrower disclosures, GFE and Change of Circumstance.
• Meets minimum standards for closed and funded files per department requirements

Qualifications

KNOWLEDGE, SKILLS, AND ABILITIES Requires knowledge typically acquired through:

• Completion of an Associates degree from a two year college or university, or technical school.
• Five years of related experience or training; and/or equivalent combination of education and experience.
• Ability to read, analyze and interpret complex documents.
• Ability to correspond professionally associates as well as clients
• Ability to do math including: divide in all units of measure, using whole numbers, common fractions, and decimals.
• Ability to exercise tact, judgment and persuasiveness and diplomacy with internal and external customers.
• Ability to define problems, collect data, establish facts and draw valid conclusions.
• Ability to multi-task and set priorities.
• Ability to work with basic mortgage industry software.
• Knowledge of current mortgage industry practices and laws.
• Knowledge of FHA, VA, Conventional and USDA loans.